Lyra Therapeutics, Inc.

Lyra Therapeutics, Inc. has historically been a clinical-stage biotechnology company focused on developing and commercializing anti-inflammatory therapies for the localized treatment of chronic rhinosinusitis (CRS). CRS is an inflammatory disease of the paranasal sinuses affecting approximately 14 million people in the United States. The company developed LYR-210, a bioabsorbable nasal implant designed for in-office administration to deliver six months of continuous anti-inflammatory drug therapy to the sinonasal passages for CRS treatment. In May 2024, topline results from the Phase 3 ENLIGHTEN 1 trial for LYR-210 did not meet its primary endpoint of statistically significant improvement compared to sham control in 3CS at 24 weeks in patients without nasal polyps. Following this, Lyra reduced its workforce by approximately 75%, impacting 87 employees, and implemented other cost-saving measures. These included stopping commercialization efforts for LYR-210 and pausing development and manufacturing for both LYR-210 and LYR-220. LYR-220 is similar to LYR-210 but is a larger implant for patients with larger nasal cavities, including those who have undergone ethmoid sinus surgery. On June 2, 2025, the company reported positive results from the Phase 3 ENLIGHTEN 2 trial evaluating LYR-210 as a six-month treatment of CRS. ENLIGHTEN 2 met its primary endpoint, demonstrating statistically significant improvement compared to sham control in the composite score of the three cardinal symptoms (3CS) of CRS (nasal obstruction, nasal discharge, facial pain/pressure) at 24 weeks in patients without nasal polyps.